Swift Trade question, please

Discussion in 'Professional Trading' started by kitty1996, Jan 19, 2008.

  1. Hi everyone:
    I am really interested in applying for Swift Trade. I am just wondering if any of you know about the interview processes?
    And what kind of people they are looking for?

    I am not into computer games. Would it affect my hiring prospect?

    Thank you.
  2. you don't play video games?? thats a big skill that you need...you will not get hired...start playing some xbox360 or ps3 and hone your skills...
  3. Hi I'm currently trading at a swift office and I have been to a few oher offices also. I think the hiring differs from place to place. But if you got passion and discipline I don't think it would be difficult getting a chance. I have to admit playing video games will for sure help your odds.

    Best of Luck!

  4. Thank you to you & others for replying. I don't understand why playing computer games would help... I don't play computer games but I do read chart from stockchart.com, I do TAs ...and
    I've been using cybertrade program before. I thought these are
    more important than playing computer games.

    Is there computer game test during the interview process?
    If there is, then I think it'd be unfair to me:(.
  5. Scalping is playing a computer game and to get the proper fills and have your orders in the right spots and cancelled and sent out at the right moment down to the 10th of a second in real time without hesistation you need to be quick to react. Intraday trading on a short term timeframe is a video game. At swift they will expect you to make many trades per day to learn to trade for a few ticks. It's a great way to learn to get your feet we in the markets and if you have a talent for it (which you can only know after 6 months- a year, unless youre a prodigy) and you won't be necessary at a disadvantage to people who play video games if you can react to a number changing on the screen and hit your button as quickly as the video gamers can. Or, in these markets, as quick as the computer programs (sometimes sitting on the floor of the ECNs).
  6. Well Kitty, when I had my interview there were no computer games to play in order to get the job. It's just that depending on your style of trading i.e. if you decided to scalp then playing video games would benefit you for the hand eye coordination. Because there is a need for day traders to be fast on the keys when they are wrong, having experience playing video games might give you an advantage just for the speed thing. It's not a requirement, just another tool in your arsenal.

  7. Thank you to all for the insight again. I really appreciate all the help I can get because I am very new about prop trading career.
    I hope the office in my town won't have computer games test during the interviewing process.

    I just have two important questions: (1) Is the training at Swift adequate in today's market? And (2) to my understanding some Swift prop traders can make big. I just wonder why these traders don't just stay at home & trade for themselves. I mean, if they trade for themselves only, they can make 2X the salaries they make at Swift (since their salaries is 50-60% of the profit they make).

    What makes these traders working for Swift & make less profit than working for themselves? I mean, the successful traders have more than enough money to be an independent trader, right?

    I heard $100,000 is more than enough for daytrading.

    What you folks think about it? Please let me know, thank you very much once again for helping newbies like me.
  8. trading at a firm like swift requires the use of hot keys. basic layout is all the buys and sells for different ecns. it basically requires the use of most the keys on your keyboard. playing video games is a plus because you can react to changes quickly, ie cutting losses and getting position. intraday trading on a 1 min chart is a fly by the seat of your pants, no hold bar, no safety net trading.

    If you trade a very volatile stock and the trade goes against you. you better be quick to cut your losses. forget about using stops because the trading is fast and furious you are your own stop.

    Some people who trade at prop firms and make big sums of money stay with the firms and don't trade on their own for one reason. why mess with a good thing? Some people trade better using other peoples money.

    good luck with your interview. stick with it and in a few years you will know your place in this game of ours.
  9. you seemed very knowledgeable; i assumed you are working for one prop firm. if i am wrong, i apologize.

    i did some research about the career. i get the feeling that the
    success rates is very low, like 10%. the other 80-90% are either
    quit or get fired.
    can you please tell me if this is correct?

    i don't mean to bother you. it's just because i need to do some
    serious understanding of what i am about to get into.

    i understand about the requirement for fast actions. besides that, is there anything else? like intellectuals ...understanding of the market. i read somewhere, it said that prop traders most often had no ideas about fundamentals of a stock or the financial market.
    if so, why do they need to hire university graduate?
    why don't they just hire someone who is a drop-out but good at computer games?

    why all wall street firms have very high standards of hiring traders; even an MBA is lucky to get an assistant trader position.
    why the standard/qualification at wallt is so high when all it needs is computer games skills to succeed as a trader?
    what is the difference from being a wall st trader vs swift/prop trader. don't they all need to act fast at execution of the trades?

    thank you very much for your input.
  10. Fistfull


    The smart firms will hire a university drop out that's good at computer games before they'll take some finance grad. Most firms arn't smart though. The best trader I know is a university dropout that plays a lot of video games.

    Day traders tend to laugh at intellectuals. The fundamentals arn't a large part of day trading. I think what most firms want is someone that seems quick witted and willing/eager to learn. If you can get that accross you'll be in good shape.
    #10     Jan 21, 2008